Visaka Industries Completes Land Lease Rights Transfer for ₹32.53 Crore
Visaka Industries completed the transfer of leasehold rights for 7.00 acres of land and building in Chennai for a total consideration of Rs. 32.53 Crores after TDS deduction. The transaction was finalized on February 12, 2026, with M/s Caresoft Global Mobility Technologies Private Limited as the buyer.
The disposal of leasehold rights for a specific land parcel, as described, is unlikely to have a material impact on the overall business operations or financial performance of Visaka Industries.
The announcement pertains to the completion of a business transaction (transfer of leasehold rights) and does not contain significant positive or negative financial implications beyond the stated consideration.
Visaka Industries Limited has announced the completion of the transfer of leasehold rights over a land parcel measuring 7.00 acres, along with the building situated at Mahindra World City Developers Ltd., Chennai. The transaction, initially intimated on December 11, 2025, was finalized on February 12, 2026.
The total consideration for this transfer was Rs. 32.86 Crores, subject to the deduction of applicable taxes. Following the deduction of Rs. 32.86 Lakhs towards Tax Deducted at Source (TDS), the company has received the final consideration of Rs. 32.53 Crores.
The buyer in this transaction is M/s Caresoft Global Mobility Technologies Private Limited. The company has confirmed that the buyer does not belong to the promoter, promoter group, or group companies of Visaka Industries. The transaction is not considered a related party transaction and was conducted at arm's length. The details provided are in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015.
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Visaka Industries Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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